Fidessa scoops industry award for ETD affirmation service
8th February 2018 - Fidessa group plc (LSE: FDSA) today announced that its post-trade affirmation management service for exchange-traded derivatives has been named Best Utilities Technology at the 2018 Fund Technology & WSL Awards. These awards recognise and reward those providers who have demonstrated exceptional customer service and innovative product development over the past 12 months.
Fidessa's AMS is designed to increase efficiency and reduce risks in post-trade ETD operations, specifically addressing the tripartite nature of the workflow between buy-side, executing broker and clearing broker. Automating that entire workflow from allocation distribution through to confirmation, reconciliation and matching, including commission values, ETD allocations can be confirmed on trade date. Positions no longer have to be carried overnight, executing and clearing brokers have clarity on commission payments and the daily reports buy-sides provide to their end clients are based on confirmed positions.
David Pearson, Head of Post-trade at Fidessa, commented: "Fidessa is committed to compressing the post-trade process through automation of the workflow. We're pleased to have reached another milestone in that journey, making T+0 a practical reality. Winning this award is testament to the industry's confidence in our approach which combines innovation with practical necessity to deliver a real-world solution available to all."
AMS is now live with key participants across Fidessa's network of 6,300 brokers and buy-sides, between them transacting in excess of $26 trillion of trades annually.
This latest award, the eleventh accolade for Fidessa's innovative technology in the past twelve months, was presented at a gala dinner in New York last night.